Madison area home buyers are experiencing a competitive market right now. It will become even more competitive in the months of April, May and June. Take a look at the graph below from the 2016 calendar year. It shows the percent of Madison single family home listings that received competing offers month-by-month.
As the numbers above show, April, May and June are the most competitive months for home buyers in the Madison market. These are the months when buyers are most likely to experience bidding wars, escalation clauses, and missed opportunities.
"Go Against the Grain and Avoid the Pain"
Conventional wisdom says you should buy your home in the spring or summer when listings are most plentiful. The numbers suggest going against the grain may be the better approach. Yes, there are more listings to choose from in the warmer months, but there's also much more competition.
If you're serious about finding and buying the right home in 2017, consider taking a path of less resistance. Start your home search right now before the buyer stampede arrives this Spring.
For more tips on buying in this year's hot market, check out these articles:
Dan Miller, REALTOR
Mad City Dream Homes & RE/MAX Preferred